“PROPREITOR OF A CASH CREDIT (CC) ACCOUNT OF A PSU BANK: 'I am having
around 40,000/- rupees only in coins denominations. Everyday, I am depositing
around 1000 rupees of coins denominations in this branch by making
10 packets of coins where each packet is having 100 rupees of coins
denominations only. But, it is of no use at all. The amount of coins
that I am releasing in the markets or bank branches everyday is coming back
by the evening through our customers itself. So, depositing these coins in
bank counters by making 100 rupee denominations packets is of no use at all.
Due to demonetization policy only, RBI released all these coins in the market.'
HEAD CASHIER OF A PSU BANK: 'People have a tendency to blame everything
on demonetization policy and lastly to RBI. Even you as a businessman kept all
those 10 rupee coins in a box and never gave to anyone till that point when in
newspapers and in social media, some people started spreading the rumours
that some 10 rupee coins are fake and some 10 rupee coins are original. After
hearing that rumour, everyone like you took out all those 10 rupee coins from
the box and started releasing it in the market out of fear, though, RBI declared
that all 10 rupee coins are valid. If 10 lakhs businessmen like you start releasing
the 10 rupee coins in the market, then why are you blaming on demonetization
policy and RBI. Point to be noted that at one point of time, some businessmen
used to distribute coins on a 10% commission basis. At least, that business is no
more due to huge circulation of coins in the market due to demonetization policy
and that constructive rumour on 10 rupee coins.'” - Arindam Sain
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